Philippine education group PHINMA Education has acquired a school in Cavite for about $7.4 million, while Singapore’s competition watchdog has approved the PropertyGuru-Hedychium deal.
PHINMA Education St Jude College for $7.4m
PHINMA Education, a KKR-backed higher education group based in the Philippines, has announced its acquisition of St Jude College (SJC) Dasmariñas Cavite for 432 million pesos (about $7.4 million).
The acquisition gives PHINMA Education a 94.62% stake in SJC and adds 3,000 students to its network, the largest in Southeast Asia’s private higher education sector in terms of enrolment.
PHINMA Education started in 2004 with a single school serving 5,000 students. It is now a fast-growing network of 10 educational institutions, including nine in the Philippines and one in Indonesia, serving over 150,000 students.
The deal also marks PHINMA Education’s first school acquisition since KKR’s investment in the company. KKR invested an undisclosed amount in the company through its Global Impact Fund II in May.
“We will continue growing our network as we find more ways to reach learners that need education the most,” said Dr Chito B Salazar, PHINMA Education President and CEO.
Competition watchdog okays PropGuru-Hedychium deal
The Competition and Consumer Commission of Singapore (CCCS) has approved the proposed acquisition of real estate marketplace PropertyGuru by Hedychium Group and its subsidiary, Hedychium Limited.
The transaction, assessed under the Competition Act 2004, was cleared after the regulator concluded that it would not significantly reduce competition in Singapore’s digital real estate advertising market.
The commission found no overlap in the products and services offered by the two companies, eliminating concerns over market dominance, according to an announcement.
Hedychium is indirectly wholly owned by BPEA Private Equity Fund VIII, a fund managed by entities affiliated with EQT AB, a global investment firm known for its active ownership strategies.
PropertyGuru, on the other hand, provides a range of services including an online property marketplace, digital sales and marketing, mortgage brokerage, home services, and real estate data and software solutions.
